HDFC AMC IPO fully subscribed on Day 1

| | New Delhi

The initial public offer of HDFC Asset Management Company was fully subscribed on the first day of bidding itself following robust demand from investors.

The mutual fund firm’s Rs 2,800-crore public offer received bids for 1,93,96,884 shares against the total issue size of 1,88,04,290 shares, translating into 1.03 times subscription, as per NSE data. The category reserved for qualified institutional buyers (QIB) was subscribed 1.19 times, non institutional investors 55 per cent and retail investors 1.34 times. Ahead of its IPO, HDFC Asset Management Company yesterday garnered Rs 732 crore from anchor investors.